The WealthTrust Axiom LLC Holds Stake in Buckeye Partners L.P. (BPL)

The WealthTrust Axiom LLC Holds Stake in Buckeye Partners L.P. (BPL)

WealthTrust Axiom LLC continued to hold its position in Buckeye Partners L.P. (NYSE:BPL) during the third quarter, Holdings Channel reports. The firm owned 10,300 shares of the company’s stock at the end of the third quarter. WealthTrust Axiom LLC’s holdings in Buckeye Partners L.P. were worth $737,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CENTRAL TRUST Co raised its position in Buckeye Partners L.P. by 4.6% in the third quarter. CENTRAL TRUST Co now owns 2,526 shares of the company’s stock worth $181,000 after buying an additional 110 shares during the last quarter. Burke & Herbert Bank & Trust Co. bought a new position in Buckeye Partners L.P. during the third quarter worth about $200,000. Boston Advisors LLC bought a new position in Buckeye Partners L.P. during the third quarter worth about $202,000. Sii Investments Inc. WI bought a new position in Buckeye Partners L.P. during the second quarter worth about $205,000. Finally, Joel Isaacson & Co. LLC raised its position in Buckeye Partners L.P. by 12.9% in the third quarter. Joel Isaacson & Co. LLC now owns 2,923 shares of the company’s stock worth $209,000 after buying an additional 333 shares during the last quarter. 65.42% of the stock is currently owned by institutional investors and hedge funds.

Buckeye Partners L.P. (NYSE:BPL) traded down 0.28% during mid-day trading on Wednesday, reaching $64.12. The company’s stock had a trading volume of 713,332 shares. The company has a market capitalization of $8.99 billion, a PE ratio of 14.92 and a beta of 1.19. The firm has a 50 day moving average price of $65.09 and a 200-day moving average price of $68.42. Buckeye Partners L.P. has a 1-year low of $47.07 and a 1-year high of $75.10.

A number of research analysts have recently issued reports on the company. Credit Suisse Group assumed coverage on Buckeye Partners L.P. in a report on Wednesday, October 12th. They issued a “neutral” rating and a $78.00 target price on the stock. Barclays PLC initiated coverage on Buckeye Partners L.P. in a report on Tuesday. They set an “equal weight” rating and a $72.00 price objective on the stock. Mizuho initiated coverage on Buckeye Partners L.P. in a report on Thursday, September 29th. They set a “neutral” rating and a $76.00 price objective on the stock. Stifel Nicolaus dropped their price objective on Buckeye Partners L.P. from $78.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. Finally, Goldman Sachs Group, Inc. (The) lowered Buckeye Partners L.P. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $78.00 to $70.00 in a report on Thursday, December 15th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Buckeye Partners L.P. has an average rating of “Hold” and an average target price of $72.40.

In related news, SVP Joseph Sauger sold 1,062 shares of the firm’s stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $64.84, for a total value of $68,860.08. Following the sale, the senior vice president now owns 29,987 shares of the company’s stock, valued at approximately $1,944,357.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Clair Keith St sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $65.10, for a total value of $227,850.00. Following the completion of the sale, the chief financial officer now directly owns 93,174 shares in the company, valued at approximately $6,065,627.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Buckeye Partners L.P. Company Profile

Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage and marketing of liquid petroleum products. The Company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.

Want to see what other hedge funds are holding BPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Buckeye Partners L.P. (NYSE:BPL).

Related posts

Leave a Comment